Washington Neighborhood Housing Trust Fund Application_IFATHE CITY OF Dubuque
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Masterpiece on the Mississippi
2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Washington Neighborhood/Housing Trust Fund Application
DATE: October 29, 2008
Housing and Community Development Department Director David Harris is
recommending submittal of an application to the Iowa Finance Authority for support of
the City's Homeownership Grant Program.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
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Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
David Harris, Housing and Community Development Department Director
THE CITY OF Dubuque
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Masterpiece on the Mississippi
2007
TO: Michael Vanligen, City Manager
FROM: David arris, Housing and Community Development Department
SUBJECT: Washington Neighborhood/Housing Trust Fund application
DATE: 1 October 08
Dubuque has a certified "local housing trust fund" according to eligibility requirements of
the Iowa Finance Authority. Our Housing Trust Fund Committee has made applications
in annual competition to IFA, for State Housing Trust Fund grants, the past four years.
We have received about $514 000 in awards for the HEART Program, the Step by Step
project and for support of home purchase and rehab activities in the Washington
Neighborhood.
For this year's application, we are applying for $250 000 for continued support of
homeownership activities in the Washington Neighborhood. This requires a 25%
match, or $62 500. We have proposed a match of $65 000 in the application that has
been submitted to the Iowa Finance Authority. That balance is currently available in the
CIP budget, under the Homeownership Grants Activity, No. 101-1595.
Commitment of these matching funds, to the Housing Trust Fund Committee, in support
of the application for State Housing Trust Funds, will satisfy the IFA requirement and
insure that our application is competitive.
(The Council approved a $65,000 CDBG match at its 6 October meeting. However, we
have been informed that these federal funds may not be used as match to the IFA
award, necessitating commitment of the City's General Funds for this purpose.)
Action Step
The action requested of the City Council is to approve the attached resolution,
authorizing commitment of $65 000 in available General funds as a match to the
Housing Trust Fund Committee's application to the Iowa Finance Authority fora $250
000 grant from the State Housing Trust Fund.
RESOLUTION NO. 390-08
A RESOLUTION APPROVING COMMITMENT OF MATCHING FUNDS FOR
AN APPLICATION TO THE IOWA FINANCE AUTHORITY (IFA) FOR STATE
HOUSING TRUST FUNDS
WHEREAS, the Iowa Finance Authority has recognized Dubuque's Housing
Trust Fund Committee as a certified Local Housing Trust Fund; and
WHEREAS, IFA has made funding available in state-wide competition to local
trust funds for State Housing Trust Fund grants, in amounts up to $250 000; and
WHEREAS, a 25% local match is required for receipt of a funding award; and
WHEREAS, the Housing Trust Fund Committee has authorized an application to
IFA for a Housing Trust Fund award, in the amount of $250 000; and
WHEREAS, General Funds committed to the Washington Neighborhood
revitalization initiative are available in the current year Housing Department budget in
sufficient amount to meet the matching funds requirement; and
WHEREAS, other City funds have been committed to the Washington
Neighborhood in support of the Housing Trust Fund's initiative, including:
Community Development Block Grant: $293 000
General Fund: $335 000
Lead Hazard Reduction Program: $200 000
CDBG Rental Rehab: $60 000
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the City of Dubuque hereby approves commitment of $65 000 in
current year General Funds as a match to the application for IFA State Housing Trust
Funds.
Section 2. That the Housing Trust Fund Committee, in accordance with Sec. 26-
37 of the Code of Ordinances, shall have final authority to direct how such funds shall
be used in support of revitalization activities in the Washington Neighborhood.
PASSED, APPROVED AND ADOPTED this 3rd
Attest:
eanne Schneider, CMC, City Clerk
day of N e~/m~ber, 008.
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Roy Q uol, Mayor